Maliis a member of the West African Monetary Union (WAEMU). Under the terms of Article 19 of the Treaty establishing the West African Monetary Union and Article 69 of the Statutes of the Central Bank, the latter "[…] shall produce a monthly statement of its accounts, which shall be published in the "Journal Officiel" of each of the States participating in its management. [It] shall also produce a monthly statement, for each agency, of currency in circulation, currency issued and its counterparts."

Article 70 of the Statutes provides that "A report on the changes in the Union's monetary survey and on the Central Bank's operations during each financial year shall be made to the Board of Directors […] and shall be submitted to the Council of Ministers of the Union and to the Heads of the States participating in the management of the Bank."

The data reported by banks and financial institutions are reported only as consolidated data or aggregates. Pursuant to Article 47 of the Statutes of the Central Bank, "The Governor, Vice-Governor, and all Central Bank staff shall be bound by professional secrecy subject to the penalties specified in criminal legislation."

Article 24 of the Statutes of the Central Bank provides as follows: "The Central Bank shall be entitled to receive from banking and financial institutions all documents and information necessary for it to carry out its duties. It may also enter into direct relations with companies and professional groupings in order to conduct investigations necessary for its information and that of the Council of Ministers […] of the Union."

Prior to 1998, the Minister of Economy and Finance assigned the Central Bank responsibility for producing balance of payments data. However, it was by virtue of West African Economic and Monetary Union (WAEMU) regulation R09/98/CM/UEMOA of December 20, 1998 that the Central Bank was entrusted with the production of annual balance of payments statistics by a regional authority. Consequently, it must take all the necessary measures to accomplish that task. All the institutional units involved in the preparation of the balance of payments are required to provide the BCEAO with the information requested. The Central Bank also acts as the Secretariat for the National Balance of Payments Committee.

No national or regional administrative authority has access to the monetary data before release. The Central Bank alone is authorized to establish the conditions and procedures for preparing the monetary statistics and for determining how they will be published. It submits the balance of payments statistics to the Balance of Payments Committee for review and approval.

Changes in methodology are usually not announced in advance. Nevertheless, the principal partners of the BCEAO (banks and financial institutions, administrations) are systematically consulted or included in the deliberations. Similarly, seminars for training or raising awareness are often organized for the national partners of the BCEAO.

The Central Bank Summary Survey for Mali is prepared on a monthly basis from accounting statements of the BCEAO (National Directorate). Data are compiled in accordance with international practices and standards, in particular, the 1993 "System of National Accounts" (SNA) and the IMF's "Guide to Money and Banking Statistics in International Financial Statistics" (1984).

They are published in the BCEAO's monthly "Information and Statistics Bulletin" ("Notes d’Informations Statistiques--Statistiques Monetaires"), and the "Annual Report" of BCEAO Headquarters. The data are compiled in terms of gross balances and, unless otherwise indicated, in millions of CFA francs, as follows:

Assets:

Net foreign assets: comprise the balance of Central Bank foreign claims and obligations, including medium- and long-term obligations and SDR allocations. The criterion of residence used in determining net foreign assets is consistent with the guidelines of the "Balance of Payments Manual", 5th ed. (BPM5). To determine the net foreign assets of a single West African Economic and Monetary Union -1994 Treaty (WAEMU) country, the other countries of the Union are included with the rest of the world;

Claims on banks and financial institutions;

Claims on government. (The definition of government in this case covers:

central government

local or regional government

the public treasury

administrative or socially-oriented public institutions and agencies performing central government functions, such as public debt and social security management).

Liabilities:

Currency in circulation

Bank deposits with the BCEAO (including cash reserves)

Treasury deposits (including cash reserves)

Other deposits (demand deposits of transactors and some agencies)

Other items, net (Other liability items - Other asset items)

Claims on Treasuries comprise direct assistance, particularly statutory advances (Article 16 of the Statutes of the Central Bank) and government securities, as well asdrawings on Fund resources by Mali.

Assets: Net foreign assets (i.e., the balance of central bank foreign claims and obligations); claims on banks and financial institutions; and claims on government. To determine the net foreign assets of Mali, the other countries of the Union are included with the rest of the world.

At present, the release calendars are not announced in advance. This is envisaged to be implemented in the context of the reform of the "Information and Statistics Bulletin" ("Notes d'Information et Statistique").

The monetary data are released simultaneously to all users. Indeed, both the monthly and quarterly "Statistical and Information Bulletin" ("Notes d'Information et Statistique") is sent out to all subscribers at the same time, in no particular order (ministries, universities, regional or international organizations, embassies, etc.). Copies are also made available to the public through the BCEAO Documentation Service.

The public and all banks are notified of interest rate changes by BCEAO release on the date of the change. Exchange rates are published daily on the BCEAO website (www.bceao.int).

Setup of a statistical database and addition of on-line monetary and balance of payments statistics to the BCEAO website: http://www.bceao.int.

Monetary base

With the implementation of a statistical database at the BCEAO, metadata on the statistical series will be available.

Draft reform of the Central Bank Chart of Accounts for closer conformity with international standards and the practices of other central banks.

Computerization of all of the Central Bank's accounting functions.

Implementation of the new "Monetary and Financial Statistics Manual".

Notes:

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